The Impact Of Basic Institutions Environment On The City Subway Investment And Finance Mechanism

Transportation construction is closely related to the economic and social development. In recent years, with the accelerating process of urbanization in China, urban traffic congestion has become the primary problem that the government needs to solve. Subway has become a more and more important traffic tool because of its safety, timely, environmental protection and so on. In2000year, China first to include the development of rail transit in "the Tenth Five-Year Plan Outline for the Development of the national economy, and made it as the development strategy for boosting the sustainable economic of the national economy, especially the economy of big cities. Subsequently, in the last decade, China's urban rail transit experienced a rapid development stage in all aspects. The rail transit network program, circuit construction achieved a major breakthrough. However, around the major cities of subway construction is neither a problem of understanding, nor a technical problem, but funding problems, which involves the study of subway investment and financing mode.Currently, the study about subway investment and financing mode mostly focus on how to broaden the investment and financing channels and how to improve the subway competitiveness. From the perspective of institutional economics to study the basic system of environmental differences, such as the legislation and supervision, the taxation system, the market economic system study of the subway investment and financing mode is not so much. To this end, I want to make a breakthrough on the basis of the original study, so we can deeply study the impact of basic institutions environment on the subway investment and finance mechanism from the system specification level.This paper analyzes a large number of literature on metro investment and financing mode as well as the basic institutional environment, starting from this new point of view of institutional economics, use the system demand theory, system supply theory, institutional change theory and subway investment and finance theory, based on Hong Kong and Beijing subway, from legislation and supervision, taxation system and market economy system aspects to study the impact of basic institutions environment on the subway investment and finance mechanism, then make the conclusion:basic system is an important factor for determining the specific system supply, differences in the basic system can lead to the differences of investment and financing mode of city subway, in order to provide a reference to the healthy development of rail transit of big cities of China.